Any business transaction done online comes under the periphery of eCommerce. Whether it’s selling goods to the final consumers or sale of airline tickets, everything is included under eCommerce. Among the different models the following can be broadly included.
Different eCommerce business models
- Business to Business (B2B)
When one business sells product to other business it is considered as B2B. A good example can be a stationary store who sells stationaries in bulk to other offices. As bulk business is done the question of discount arises.
- Business to consumer (B2C)
It is considered as the most common form of business model where business sells to final consumers. When you buy laptop online or any medicine it is B2C. Normally you do not buy in bulk in this business model.
- Consumer to consumer (C2C)
It is a quite new model where a buyer sells their used products or even a newly purchased product to another buyer. There are many online sites like eBay and others who let the consumer sell to another consumer.
Reason Ecommerce is becoming popular
In the past couple of years eComemrec has shown tremendous growth. The main reasons for this are
- When you are running an online business you are open 24 hours a day. For customers it’s convenient as they can shop in their leisure time. For merchants it gives an opportunity to increase their sales.
- It gives your business a global market. When you run a physical store you are bounded in a particular geographical region. With your online store you can reach a customer without thinking about any boundaries!
- The overall cost of running a business is reduced with an online store running. There is no need to hire staff, maintain a shop and pay other bills. Just maintain your online site and that’s it.
- Inventory management is also automated now by using the electronic tools. When ordering, delivering and procurement are done online it becomes easy to keep track on products in stock. It saves quite some money.
- eCommerce platform allows you to run your business from any location and there os no need to think about a 9 to 5 business model. You can run the business at your convenient and make sure that your customers are getting what they are looking for.
Starting an online business may seem tough, but if you do proper research you will find that it is a lucrative business that is possible to take by anyone who loves challenges and wants to grow.
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